Correlation Between Lindblad Expeditions and Menora Mivtachim

Can any of the company-specific risk be diversified away by investing in both Lindblad Expeditions and Menora Mivtachim at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Lindblad Expeditions and Menora Mivtachim into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Lindblad Expeditions Holdings and Menora Mivtachim Holdings, you can compare the effects of market volatilities on Lindblad Expeditions and Menora Mivtachim and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Lindblad Expeditions with a short position of Menora Mivtachim. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and Menora Mivtachim.

Diversification Opportunities for Lindblad Expeditions and Menora Mivtachim

0.0

Correlation Coefficient

Lindblad Expeditions  Menora Mivtachim

Pay attention - limited upside

The 3 months correlation between Lindblad and Menora is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and Menora Mivtachim Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Menora Mivtachim Holdings and Lindblad Expeditions is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Lindblad Expeditions Holdings are associated (or correlated) with Menora Mivtachim. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Menora Mivtachim Holdings has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and Menora Mivtachim go up and down completely randomly.

Pair Corralation between Lindblad Expeditions and Menora Mivtachim

If you would invest  2,505  in Menora Mivtachim Holdings on December 21, 2024 and sell it today you would earn a total of  0.00  from holding Menora Mivtachim Holdings or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	95.24%
Values	Daily Returns

Lindblad Expeditions Holdings  vs.  Menora Mivtachim Holdings

Lindblad Expeditions

Risk-Adjusted Performance

Very Weak

Over the last 90 days Lindblad Expeditions Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain rather sound which may send shares a bit higher in April 2025. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.

Menora Mivtachim Holdings

Risk-Adjusted Performance

Very Weak

Over the last 90 days Menora Mivtachim Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable technical indicators, Menora Mivtachim is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Lindblad Expeditions and Menora Mivtachim

The main advantage of trading using opposite Lindblad Expeditions and Menora Mivtachim positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, Menora Mivtachim can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Menora Mivtachim will offset losses from the drop in Menora Mivtachim's long position.

The idea behind Lindblad Expeditions Holdings and Menora Mivtachim Holdings pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.